Johnny Depp just gets his divorce finalized, and now has to deal with what is being said his former crooked management company… well known by celebs as “TMG” (The Management Group).
The lawsuit was filed in Los Angeles Superior Court for over $25 million, after Depp realized that TMG including two of the company’s attorneys, took $28 million in fees from him, despite having no contract dictating such actions. The firm, which handled accounting, tax, and business matters for the star from 1999 to 2016, also allegedly did not properly file his taxes. He further claims his books were not accurately maintained, and that $10 million of his money was loaned to third parties without his approval.
Johnny’s lawyer Matthew Kanny says, “Mr. Depp is one of the most sought after and highly paid actors in the world. He is also the victim of the gross misconduct of his business managers — The Management Group and attorneys Joel and Robert Mandel — who collected tens of millions of dollars of contingent fees, purportedly based on an oral contract, all at Mr. Depp’s expense. TMG treated Mr. Depp’s income as their own, available to either TMG or third parties to draw upon as desired,” asserts Kanny, who further contends, “Adding insult to injury, TMG has now sought to foreclose on Mr. Depp’s primary residence, even though the alleged loan secured by Mr. Depp’s residence was made through TMG’s self-dealing and conflicts of interest, and the purported ‘default’ occurred solely as a result of TMG’s own misconduct.” Continuing… “As a result of years of gross mismanagement and sometimes outright fraud, Mr. Depp lost tens of millions of dollars and has been forced to dispose of significant assets to pay for TMG’s self-dealing and gross misconduct. It was only recently, when Mr. Depp terminated TMG and hired new business management and accounting services, when Mr. Depp learned the gravity of his financial losses and some, but surely not all, of the underlying facts.”
As they say in life… Mo’ money, Mo’ problems. But hey, we would trade Johnny bank accounts any day!